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Rally, you have far more experience with the markets and knowledge of fundamentals than I do, but here's my take on this one, from a purely technical standpoint. After a 5-wave decline, WY recently printed an Adam and Eve bottom reversal at 55, which coincided with the lows from November '03...

AAPL looking good for an ATM bear call. :)

May have jumped the gun a little on this one...

I was also looking for a short position in metals and this one made the shortlist, but in the end opted for long puts on NUE (similar setup but post-ER).

I agree. I've got the Sep 50's.

If your basic materials extends to materials/construction, take a look at LEN.

Take a look at UNH. Perfectly poised for a breakout. :cool:

Haven't put my neck on the line enough so I'll fine-tune the prediction If OIH closes above 141.26, I think it will test 145 tomorrow and end the week on 140. :eek:

Well, seeing as all opinions are welcome... I've got a (much smaller!) bull spread in OIH. I think it'll be pinned to 140 or 145 come expiration. I would probably wait and see how tomorrow unfolds.

Thanks for the response. Relented. Credit was too paltry, upped my offer, so now I'm even less likely to get a fill :p Appreciate that I might be jumping the gun but I'm just feeling overwhelmingly bearish...

Thanks for the advice everyone. Will let you know if I get a decent fill.

2 part question- 1) What sort of premium would you be looking for? 2) How would you get the MMs to budge? Wasn't even filled when the mark was 2.95. I'm only putting 5 contracts on - does increasing position size secure a fill?

Mark currently at 2.85... how far do you have to go to get filled?!

Greetings all. :) With earnings season upon this, I've decided to give equities a miss and open a couple of ETF/index spreads. This will be my first SPX trade. Been trying for 1290/1300 Aug bear call for 2.30. Too aggressive? (in either sense)

I've got the same spread open. Am curious, what's your exit strategy on this one?

Actually, you can enter stop losses on spreads if you need to, just need to be a little more creative about it. All you need to do is set up a conditional limit order... On the trade page, in the order entry box click on Rules, and enter your conditions i.e. how you'd like your stop...

Didn't realise you daytraded on the side. No wonder you're so good at adjusting :p Are you using similar setups for your day-trades, and concentrating on similar sectors?

I mostly trade vertical spreads. Working full-time, I rarely get an opportunity to enter a spread order before the final hour. My question is this: Are there particular times of the day/week that predispose favourably to buying spreads as opposed to selling them? Thanks, Neoxx

Don't know the guy personally, and have never met him, but based on a friend who has known him for years, and my own experience hearing him talk, he seems genuine and sincere. I ordered the Volcone product a while back and found both the service and aftercare satisfactory. I'm not sure why...

Looking real strong. Gap up, anyone/>?